COSCO Invests Nearly $3 Billion in New Container Ship Orders
COSCO Shipping Holdings has committed approximately $2.99 billion to construct 18 container vessels, bolstering its fleet capabilities. This investment includes 12 ultra-large LNG dual-fuel ships and six mid-sized vessels, anticipated for delivery between 2028 and 2030.
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COSCO Shipping Assets has signed a contract with Shanghai Waigaoqiao Shipbuilding for 12 LNG dual-fuel container vessels, each costing about $224 million. Additionally, six 3,200-TEU vessels are being built at Huangpu Wenchong Shipbuilding for approximately $50.1 million each.
This investment will enhance COSCO's fleet size and competitive edge, particularly on routes from the Far East to Northwest Europe. The new vessels are aligned with growing demands for green supply chains, targeting energy efficiency and emissions reduction. COSCO ranks fourth among liner operators globally, with a total fleet of 566 ships.
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